What does your Financial Intelligence have to do with creating wealth secrets?
First wealth secrets question: do you know what your financial IQ is?
For most people, the good news is you can easily increase it, it makes creating wealth easier, and it’s much more important that your IQ. Your Financial IQ is a measure of your level of financial intelligence, how well you do with money, as in do you have the problem of not enough money or too much money (yes, they both are problems – which problem would you rather have?). You have your IQ, or intelligence quotient – a score designed to assess your overall intelligence level, how smart you are basically – and there’s also an emotional IQ, among others, which measures your ability to control emotions.
Creating Wealth Secrets – Why Financial Intelligence is important
In terms of creating wealth, no other intelligence quotient means as much to your financial success (and more than likely your overall happiness) as your financial IQ.
You could be an absolute genius and still be broke, destitute and poor.
People will not give you money simply because you’re smart, and even if you are able to make a lot of money because you’re smart, it does not mean necessarily that you will be able to hold on to it or multiply it and turn it into more (history is full of smart people who died broke). That requires financial intelligence, an intelligence that you can improve with financial education.
Even emotional intelligence, while helpful in keeping your emotions out of the way, also does not ensure that you will do the right things for acquiring money or creating wealth, or ensure that if you had money or wealth, you’d again be able to grow it or even keep it.
A high degree of financial intelligence will ensure that regardless of how much money you have to begin with – or even how much debt you may be under – you can make the right decisions and take the right actions that will not only remove you from your present financial circumstances but help you rise high above them and completely turn your life around.
A high financial IQ will allow you to make smart decisions with money that passes through your hands or through your bank account, and it will help you attract to you the resources you need to grow. It will help you leverage whatever assets you have available to you, be it time, money, people, knowledge, etc. It will completely change your life, if you apply it.
One great example of the power of these wealth secrets is the story of Donald Trump.
He may have had a few millions worth of seed capital to begin with and many would argue that is why he is a successful billionaire today. However, you also have to remember that he not only lost his millions some years back, he actually was nearly a billion dollars in debt!
Most people cannot even fathom that amount of debt, they struggle to get their minds past their own credit card or other debts which pale in comparison. Yet, as most people struggle, trapped by the fear of their growing debt hoping to someday just be able to even pay it off and get out from under it, Donald Trump was able to not just get out from under his close to $1 billion in debt, he reversed it and became a billionaire in the process, having to create over $2 billion in the process to become a billionaire!
How’d he do it? There must be some other wealth secrets involved, right?
The fact is, once you increase your financial education, your financial intelligence grows automatically. The skills you learn through expanding your financial education can never be taken away from you. It’s not simply a matter of memorizing terms, economic history or being a master accountant. Learning the difference between assets and liabilities, good debt and bad debt, how to legally pay zero in taxes or using taxes to make you richer… All of these concepts or ideas, once learned, have the power to completely transform your finances and your future!
Here’s one more of many wealth secrets to leave you with regarding creating wealth:
The great thing about a high level of financial intelligence is that even if you make a mistake or the market turns against you and you end up losing it all, you’ll know that you know the wealth secrets, you can make it all back again and more – just like “The Donald!”
Originally posted 2011-06-24 08:06:22.